Entercom Communications (NYSE:ETM) Trading Down 8.1%

Entercom Communications Corp. (NYSE:ETM)’s stock price traded down 8.1% on Friday . The company traded as low as $3.51 and last traded at $3.53, 1,202,139 shares were traded during trading. A decline of 13% from the average session volume of 1,388,155 shares. The stock had previously closed at $3.84.

A number of equities analysts recently weighed in on the stock. ValuEngine cut shares of Entercom Communications from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 1st. Zacks Investment Research raised shares of Entercom Communications from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, B. Riley set a $6.00 price objective on shares of Entercom Communications and gave the stock a “buy” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Entercom Communications has a consensus rating of “Buy” and an average price target of $4.79.

The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.87 and a current ratio of 1.87. The company has a market cap of $513.71 million, a PE ratio of 4.20 and a beta of 1.21. The company’s 50-day simple moving average is $5.03 and its 200 day simple moving average is $5.94.



Entercom Communications (NYSE:ETM) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.09). Entercom Communications had a negative net margin of 21.69% and a positive return on equity of 7.96%. The business had revenue of $380.70 million during the quarter, compared to analysts’ expectations of $386.57 million. During the same period in the prior year, the business earned $0.01 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. Analysts forecast that Entercom Communications Corp. will post 0.98 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be given a $0.02 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $0.08 annualized dividend and a yield of 2.27%. Entercom Communications’s dividend payout ratio is presently 42.86%.

In other Entercom Communications news, Chairman David J. Field purchased 30,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was bought at an average price of $5.85 per share, with a total value of $175,500.00. Following the transaction, the chairman now directly owns 1,863,658 shares of the company’s stock, valued at approximately $10,902,399.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard J. Schmaeling purchased 55,676 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average cost of $3.61 per share, with a total value of $200,990.36. The disclosure for this purchase can be found here. Insiders acquired a total of 1,256,202 shares of company stock valued at $7,295,969 in the last three months. 14.04% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in shares of Entercom Communications by 46.3% during the fourth quarter. Bank of America Corp DE now owns 91,522 shares of the company’s stock worth $522,000 after purchasing an additional 28,943 shares in the last quarter. Legal & General Group Plc increased its position in shares of Entercom Communications by 10.9% in the 4th quarter. Legal & General Group Plc now owns 22,475 shares of the company’s stock valued at $128,000 after acquiring an additional 2,212 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Entercom Communications by 32.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,399,646 shares of the company’s stock valued at $25,122,000 after acquiring an additional 1,066,215 shares during the period. Deutsche Bank AG increased its position in shares of Entercom Communications by 2.8% in the 4th quarter. Deutsche Bank AG now owns 302,394 shares of the company’s stock valued at $1,726,000 after acquiring an additional 8,274 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of Entercom Communications by 100.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 186,035 shares of the company’s stock valued at $977,000 after acquiring an additional 93,259 shares during the period. 78.30% of the stock is owned by institutional investors and hedge funds.

About Entercom Communications (NYSE:ETM)

Entercom Communications Corp., a media and entertainment company, engages in radio broadcasting business in the United States. 3 The company owns and operates radio stations in various formats, such as news, sports, talk, classic rock, urban, adult contemporary, alternative, country, and others. As of February 11, 2019, it had a portfolio of approximately 235 radio stations, digital platforms, and live events.

Further Reading: Holder of Record

Receive News & Ratings for Entercom Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Entercom Communications and related companies with MarketBeat.com's FREE daily email newsletter.